RESIDENTIAL PRIVATE LOANS
Our residential financing solutions offer first and second private mortgages; the absolutely best mortgage rates and terms, with quick application process and closing, serving both mortgage brokers and borrowers.
We specialize in short term financing for real property owners that are unable to obtain conventional bank financing due to factors such as: self-employed business owners, impaired credit, insufficient verifiable income or cash flow, residency issues, rush funding requirements, jumbo loans, missed payments and complicated collateral arrangements (e.g., mixed asset types or varied geography).
With so many changes in the current marketplace traditional banking structures are becoming very rigid.
MFDC works with private lending partners which look beyond credit scores, missed payments, etc. and evaluate the available equity when creating a mortgage solution. Whether your home is in Toronto, a home in Barrie, a condo in Burlington, or anything in between, we’ll work with our lending partners to put together a financing solution that works.
In addition, one of our specialties is providing luxury residential jumbo loans which are higher amounts on high end residential properties. Normally banks will not service these 1st and 2nd mortgages above $1 million dollars. Now will they offer as high LTV (Loan to Value).
MFDC’s capital sources for residential private lending provides first and second mortgage financing on urban single family homes and condominiums located in Toronto, the Greater Toronto Area and Southwestern Ontario.
We welcome direct home owners to contact us for a stress free solution and there are never any upfront fees, Zilch!
Just fast private mortgage solutions for your current situation.
We also work with mortgage brokers to provide alternative mortgage solutions for their clients with mortgage needs that cannot be satisfied by conventional lenders.
These residential loans usually require some urgency and are normally funded within 3-5 days.
Banks require more stringent underwriting and are unable to offer such fast closings on these type of files.
Residential Lending Criteria 1st and 2nd Mortgages
Loan Amounts: $100,000 to $5,000,000
Security: Urban single family homes and condominiums
Loan to Value: Up to 75-80%
Interest Rates:
1st Mortgages: Interest rates start at 8.99%, Fees start at 1.5%, 6-month to 3-year terms
2nd Mortgages: Interest Rates start at 10.99%, Fees start at 2%, 6-month to 2-year terms
Lender Fee: 1.5%-2%+ plus any broker fees
Term: Typically, 12 month term with an option to extend for an additional 12 months
Lending Areas: Ontario: Toronto, Greater Toronto Area, Southwestern Ontario
Why Private Lending is the best option:
We specialize in short term financing for real property owners that are unable to obtain conventional bank financing due to factors such as: self-employed business owners, impaired credit, insufficient verifiable income or cash flow, residency issues, rush funding requirements, jumbo loans, missed payments and complicated collateral arrangements (e.g., mixed asset types or varied geography).
With so many changes in the current marketplace traditional banking structures are becoming very rigid.
MFDC works with private lending partners which look beyond credit scores, missed payments, etc. and evaluate the available equity when creating a mortgage solution. Whether your home is in Toronto, a home in Barrie, a condo in Burlington, or anything in between, we’ll work with our lending partners to put together a financing solution that works.
In addition, one of our specialties is providing luxury residential jumbo loans which are higher amounts on high end residential properties. Normally banks will not service these 1st and 2nd mortgages above $1 million dollars. Now will they offer as high LTV (Loan to Value).
MFDC’s capital sources for residential private lending provides first and second mortgage financing on urban single family homes and condominiums located in Toronto, the Greater Toronto Area and Southwestern Ontario.
We welcome direct home owners to contact us for a stress free solution and there are never any upfront fees, Zilch!
Just fast private mortgage solutions for your current situation.
We also work with mortgage brokers to provide alternative mortgage solutions for their clients with mortgage needs that cannot be satisfied by conventional lenders.
These residential loans usually require some urgency and are normally funded within 3-5 days.
Banks require more stringent underwriting and are unable to offer such fast closings on these type of files.
Residential Lending Criteria 1st and 2nd Mortgages
Loan Amounts: $100,000 to $5,000,000
Security: Urban single family homes and condominiums
Loan to Value: Up to 75-80%
Interest Rates:
1st Mortgages: Interest rates start at 8.99%, Fees start at 1.5%, 6-month to 3-year terms
2nd Mortgages: Interest Rates start at 10.99%, Fees start at 2%, 6-month to 2-year terms
Lender Fee: 1.5%-2%+ plus any broker fees
Term: Typically, 12 month term with an option to extend for an additional 12 months
Lending Areas: Ontario: Toronto, Greater Toronto Area, Southwestern Ontario
Why Private Lending is the best option:
- Equity based lending decisions
- Interest Only Payments
- Possibility in case-to-case situations to waive need for Appraisals
- No minimum credit beacon score
- No GDS/TDS requirements
- Acquisition financing and refinancing available
- Flexible repayment privileges
- Resident or Non-resident applicants
- Interest reserves available
- Non-recourse loans available
- Quick turnaround and deal closings
- Higher LTV's than banks
- Less paperwork and underwriting
- Higher funding amounts available
The first step in determining your private residential loan options is to give us a call so we can quickly review your situation on the phone together and discuss the most relevant options that are available to you.
Our assessment process does not come with any cost or obligation to you and we will try to complete it as quickly as possible so that no time is being wasted determining if we can help you or not.
Give us a call at 647-955-8784 to book a time when we can discuss your financing requirements. If you get our assistant, leave your name, number, and best time to call and we’ll get back to you as soon as we can.
You can also send us your info by using the below form or send us an email to: support@mfdcgroup.com
Our assessment process does not come with any cost or obligation to you and we will try to complete it as quickly as possible so that no time is being wasted determining if we can help you or not.
Give us a call at 647-955-8784 to book a time when we can discuss your financing requirements. If you get our assistant, leave your name, number, and best time to call and we’ll get back to you as soon as we can.
You can also send us your info by using the below form or send us an email to: support@mfdcgroup.com